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Openlane Inc. - KAR STOCK NEWS

Welcome to our dedicated news page for Openlane (Ticker: KAR), a resource for investors and traders seeking the latest updates and insights on Openlane.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Openlane's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Openlane's position in the market.

Rhea-AI Summary
OPENLANE, Inc. (NYSE: KAR) will announce its first quarter 2024 financial results on May 1, 2024. The earnings conference call will be hosted by CEO Peter Kelly and CFO Brad Lakhia.
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OPENLANE, Inc. (KAR) to Participate in BofA Securities Automotive Summit 2024
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2.37%
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OPENLANE, Inc. (NYSE: KAR) announces the retirement of Treasurer and VP of Investor Relations, Mike Eliason, after over 25 years with the company. Brad Lakhia, EVP and CFO, will take over as Treasurer. A nationwide search is underway to find Eliason's successor.
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0.94%
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OPENLANE, Inc. (NYSE: KAR) reported strong financial results for Q4 2023, with total revenue reaching $1.645 billion, an 8% increase. Despite a loss from continuing operations of $155 million, adjusted EBITDA rose by 18% to $272 million. The company highlighted growth in Marketplace volumes and a cash flow of $237 million. The 2024 guidance includes income projections of $74-$88 million and adjusted EBITDA of $285-$305 million.
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3.82%
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OPENLANE, Inc. promotes Will Mitchell to president of AFC, bringing 20 years of operational and strategic expertise. Mitchell's leadership will focus on vision, strategy, and operations for AFC, aiming to drive growth and innovation in the wholesale used vehicle market.
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2.76%
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OPENLANE, Inc. (NYSE: KAR) will release its Q4 2023 financial results on February 20, 2024, followed by an earnings conference call and webcast. The call will be hosted by CEO Peter Kelly and CFO Brad Lakhia. Investors can access the call by dialing 1-833-634-2155 or through a live webcast on the corporate website.
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0.56%
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OPENLANE, Inc. (NYSE: KAR) launches Visual Boost AI™, a new AI-powered tool that enhances buyer confidence and empowers smarter, faster purchase decisions in the wholesale used vehicle marketplace.
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OPENLANE, Inc. (NYSE: KAR) announces the upcoming retirement of AFC President Jim Money effective April 1, 2024. Money assumed his current role in 2016 and leaves a legacy of nearly 25 years of purpose-driven leadership, growth, and innovation at AFC. The company has initiated a national search for Money's successor.
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-0.13%
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OPENLANE, Inc. (NYSE: KAR) has signed a definitive agreement to acquire the Manheim Canada business from Cox Automotive for $130 million CAD or approximately $95 million USD. The acquisition will expand OPENLANE's digital strategy by adding Manheim Canada inventory, buyers, sellers, and data to the OPENLANE Canada digital marketplace. It is anticipated to deliver accelerated cash flow payback through unlock of asset sale, cost and operational synergies.
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-1.2%
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OPENLANE, a leading operator of digital marketplaces for wholesale used vehicles, (NYSE: KAR), will participate in the Barclays Global Automotive and Mobility Tech Conference on November 29, 2023. The conference will feature OPENLANE's Chief Financial Officer Brad Lakhia and Treasurer and Vice President Investor Relations Mike Eliason. The webcast of the presentation will be available on the company's investor relations section of the website at ir.corporate.openlane.com.
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Openlane Inc.

NYSE:KAR

KAR Rankings

KAR Stock Data

1.89B
105.68M
2.23%
103.36%
3.62%
Used Car Dealers
Retail Trade
Link
US
Carmel

About KAR

kar auction services, inc. (nyse: kar), a fortune® 1000 company, operates used vehicle auction services for north american sellers and buyers worldwide. based in carmel, ind., the kar group of companies is comprised of adesa, inc. (adesa), insurance auto auctions, inc. (iaa), automotive finance corporation, inc. (afc), and additional business units, with nearly 12,000 employees across the globe. adesa operates 65 wholesale used vehicle auctions and iaa has 165 salvage vehicle auctions. both companies offer leading online auction platforms to provide greater access for customers. afc provides inventory financing and comprehensive business services to primarily independent used vehicle dealers from its 105 locations. together, kar’s complementary businesses provide support, technology and logistics for the used vehicle industry. for more information, visit karauctionservices.com.